Bharat Forge Ltd
NSE: BHARATFORG BSE: 500493
₹1758.90
(-0.71%)
Sun, 22 Feb 2026, 09:37 pm
Market Cap837.99B
PE Ratio74.48
Dividend0.48
Producer Manufacturing
Metal Fabrication
24.5KCompany History
1961
- Incorporated on June 19 in Mumbai for forgings and crankshafts.
- Established in collaboration with SIFCO USA.
1966
- Begins commercial production of forgings at Mundhwa.
1971
- Subdivides Rs 100 shares.
1976
- Issues 930,000 bonus equity shares in 3:5 proportion.
1978
- Redeems preference shares in three instalments.
1981
- Ends technical collaboration with Sifco Industries USA.
- Issues equity shares in conversion of V Series debentures.
1982
- Balchandra Investment Pvt Ltd becomes wholly owned subsidiary.
1983
- Agrees with Tokyo Drop Forging Co Japan for forging upgradation.
- Agrees JV with MELTRON for colour TV manufacture.
1984
- Forge Investment Ltd and Mundhwa Investment Ltd become subsidiaries of Bhalchandra Investment Ltd.
1985
- Increases Pune steel forgings capacity to 40,000 tonnes.
- Receives industrial licences for forgings and couplings.
- Collaborates with Torsiflex Ltd UK for couplings.
- Issues 15% NCDs IV series privately and on rights.
- Issues 10% convertible NCDs V series on rights.
1986
- Converts letter of intent to licence for machine components at Mundhwa.
- Obtains registrations for metallurgical and industrial machinery at Vaduth.
- Changes name to Bharat Forge Ltd effective April 30.
- Issues equity shares in conversion of V Series debentures.
1987
- Jalkumbhi and Starflower become subsidiaries of Forge Investment Ltd.
- Chakrapushpa and Jalakamal become subsidiaries of Mundhwa Investment Ltd.
1989
- Modernises steel forgings and crankshafts division at Pune.
- Sets up Kalyani Sharp India Ltd JV for TVs and VCRs; transfers electronics division.
- Offers 14% NCDs VI series on rights and to employees.
- Issues bonus shares and rights shares.
1991
- Allots 14% NCDs 7th series privately.
- Issues 18% NCDs 8th series to Mutual Funds.
1992
- Commences Financial Services Division; diversifies into real estate.
- Commissions 12,800 tonnes hot forging press.
- Offers 16% NCDs with warrants on rights and to employees.
- Allots rights and employee shares.
1993
- Issues equity shares on warrant exercise.
1994
- Offers equity shares on rights and to employees.
- Issues 14.5% NCDs with warrants on rights and to employees.
- Issues Swiss Francs 20 million convertible notes.
- Starflower Investment and Chakrapushpa cease as subsidiaries.
- Allots shares on rights, warrants, and privately.
1995
- Proposes 180,000 finished machined crankshafts plant at Pune.
- Enters technical agreement with Metalart Corporation Japan for precision forgings.
- Diversifies into wheel rim production.
- Allots equity shares against warrants and stock options.
1996
- Hives off wheel rim division to JV with Lemmerz-Werke Germany effective June 4.
1997
- Redeems 12 million redeemable preference shares.
1998
- Approves Mundhwa project for 38,000 tonnes forging capacity.
1999
- Achieves strong results; becomes fifth-largest global forging company by volume.
2000
- Demerges Investment Division and Wind Mills Division effective March 1.
2001
- Retrenches 800 employees.
- G A Nayak replaces K G Vassal as UTI nominee director.
- Reports 16% revenue drop and 81% net profit drop.
2002
- G A Nayak resigns as UTI Nominee Director.
- Signs forgings supply contract with Dana Spicer Europe Ltd.
- Receives $20 million engine components order from Chinese OEM.
2003
- Secures Guangxi Yuchai Machinery as major China customer.
- Appoints Ajay S Nagle as Company Secretary and Compliance Officer.
- Wins passenger car components contracts from Ford and DaimlerChrysler.
- Board approves raising long-term resources.
2004
- Plans entry into China.
- Ties up with BITS-Pilani for employee education.
- Appoints Amit B Kalyani as Director and Executive Director.
2005
- Receives outstanding organisation award for quality from NIQR.
- Acquires Imatra Kilsta AB Sweden and Scottish Stampings Scotland.
- Signs JV with FAW Corporation China.
- Splits share face value from Rs 10 to Rs 2.
2006
- Appoints Lalita D Gupte as Director.
- Inks SEZ agreement with Maharashtra Government.
- Holds opening ceremony for FAW Bharat Forge (Changchun) Co., Ltd.
2007
- Centre for Advanced Manufacturing takes shape in Baramati.
- Holds first BITS Pilani B.S. Manufacturing Engineering convocation.
2008
- Signs MOU with NTPC for capital goods JV.
- Appoints Sunil Chaturvedi as Additional and Executive Director.
- Commissions India's largest commercial open forging press.
- Signs Letter of Intent with IIT-Bombay.
- Forms JV with Alstom for super-critical power plant equipment.
- Signs MOU with Maharashtra Govt for Baramati manufacturing centre.
2009
- Appoints P H Ravikumar as Additional Director.
- Signs MoU with AREVA for heavy forgings.
- Receives National Award for Best HR Practices.
2010
- Appoints Dr. T. Mukherjee as Additional Director.
2011
- Appoints Ajay Kumar Sharma as Company Secretary and Compliance Officer.
- Recommends dividend of Rs 3.50 per share.
2012
- Alstom JV bags Rs 1,570 crore order from NTPC.
- Recommends total dividend of Rs 4 per share.
2013
- Alstom-Bharat JV receives NTPC order for supercritical turbine islands.
- Appoints Vimal Bhandari as Additional Director.
- Alstom Power JV bags Rs 2,251 crore NTPC order.
- Awarded Sword of Honour for safety.
- B.N. Kalyani receives IOD Distinguished Fellowship Award 2013.
2014
- Amalgamates joint venture companies.
- Forms partnership with Safran for aerospace opportunities.
- Baba N Kalyani receives Sir M Visvesvaraya Memorial Award 2014.
- Saab and Kalyani Group sign strategic partnership for India air defence.
2015
- Production starts at Alstom-Bharat Forge turbine and generator facility.
- Conducts corporate reorganization of European subsidiaries.
- Awarded Energy Efficiency Recognition Prize 2015.
- Pursues acquisition of Neumayer Tekfor with Mahindra CIE.
- Formalizes long-term supply agreement with Rolls-Royce.
2016
- Receives Boeing 777X titanium forging contract.
- Awarded Certificate of Recognition by General Motors.
- Sets up ordnance factory in Pune.
- Wins Make in India Award for Indigenization.
- Acquires Walker Forge Tennessee LLC.
- Awarded Silver Certificate for Manufacturing Excellence.
- Awarded Frost & Sullivan Award 2016.
2017
- Awarded TIME India Global Manufacturer of the Year 2017.
- Acquires balance 40% equity in Analogic Controls India Limited.
- Secures maiden order from Ministry of Defence.
- Awarded Daimler Supplier Award 2016.
- Kalyani Group and Israel Aerospace Industries plan JV for air defense systems.
- Recognized by General Motors as 2016 Supplier of the Year.
2018
- Wins 1st Award for Lean Project at 14th Lean Six Sigma Excellence Awards.
- Awarded AIMA Managing India Awards - Indian MNC of the Year.
- Honoured with Silver Award for Business Alignment at Ashok Leyland Conference.
- Establishes E-Mobility R&D Centre in MIRA Technology Park, UK.
- Inaugurates Industry 4.0 Centre of Excellence with PTC.
- Takes strategic stake in Tevva Motors (Jersey) Limited.
2019
- Awarded Centenary Industry Excellence Award from Institution of Engineers.
- Receives Quality Excellence award from Tata Motors.
- JV bags $100 million order from Israel defence firm for missile kits.
2020
- Wins Golden Peacock Award for Corporate Social Responsibility 2019.
- Achieves 3rd position in 10th Kaizen Competition.
- Commences operations in graded manner.
- Launches AI-based Health Risk Monitoring System for safe workplace return.
2021
- Receives Institution of Engineers Industry Excellence award in Engineering Manufacturing & Processing category.
- Receives CII-SR CFO Award in Manufacturing & Distribution category.
2022
- Completes acquisition of JS Autocast.
- Bharat Forge Infrastructure Limited signs binding agreement with Talgo India Private Limited.
- Commences supply of forgings using Green Steel.
2023
- Announces E-bike manufacturing facility at MIDC.
2024
- Completes acquisition of AAM India Manufacturing Corporation Private Limited.
- Enters Definitive Agreement to acquire AAM India Manufacturing Corporation Pvt. Ltd.
- Spearheads sustainable transformation of 100 villages in Maharashtra.
2025
- Successfully completes acquisition of AAM India Manufacturing Pvt. Ltd.
- Inks largest domestic contract with Ministry of Defence for ATAGS artillery system.
- Awarded Rs. 1,661.9 crore contract by MoD for 255,128 CQB Carbines.
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